There is a HUGE MT SL tranche due to get tagged on GBPUSD.
I intend to enter long upon the RINSE of the SL tranche.
The 4hr chart shows that GBPUSD is perhaps due a correction, BUT the Shorts are still dominant AND there is still a large MT Short SL that will likely become the next logical target after GBPUSD is done with today’s Long Rinse.
Of course, the HUGE long volume that has come into play today has been noted, but I am speculating that most of this will be gone by the time the Long SLs have been taken out.
There is bound to be some sort of reaction upon, or shortly after the MT SL trance’s being claimed, and the plan is to simply keep an eye on the DM positions, if they are all getting long on the bounce in ‘agreement’ with my trade, then perhaps I simply hop off for a small profit, or perhaps aim to scratch, circumstances dependent.